Dye & Durham Closes Acquisition of GlobalX
TORONTO, July 2, 2021 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announces that it has closed its previously announced agreement to acquire GlobalX Information Pty Ltd for approximately C$159 million (A$171 million). On June 17, 2021 the Australian Competition & Consumer Commission announced that it would not oppose the transaction, providing clearance for Dye & Durham to proceed with closing of the acquisition.
"We are excited to be moving forward with the acquisition of GlobalX and welcoming the company and its team into Dye & Durham. We expect a seamless integration of GlobalX with our existing Australia business and, importantly, a transition which is not disruptive to our customers," said Matt Proud, CEO of Dye & Durham.
The acquisition of GlobalX further grows Dye & Durham's platform in Australia, delivering value to Australian legal, property and business professionals.
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations. Additional information can be found at www.dyedurham.com.
About GlobalX
GlobalX is one of Australia's most successful technology companies with operations across Australia and the United Kingdom. Established in 1994, the firm focuses in innovative technology solutions and support services for law firms, conveyancers, financial institutions, property planning professionals and government bodies. GlobalX offers unique cloud-based software solutions, including online property and business regulatory information, practice management software, conveyancing workflow, electronic contracts and legal support services.
Forward-looking Statements
This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the prospectus supplement of the Company dated February 18, 2021 to the short form base shelf prospectus of the Company dated November 18, 2020 (including the documents incorporated by reference therein). Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Dye & Durham Limited
Adam Peeler, LodeRock Advisors Inc., [email protected], 416.427.1235
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